The S&P500 and the Nasdaq hit new highs on Tuesday with techniology leading the charge as Apple, Zoom Video soared, and on the macro front, better-than-expected data on US manufacturing sector data gave optimism about economic recovery.
The Dow Jones Industrial Average was up 215 points, at 28,645, the S&P 500 gained 26 points, or 0.75%, to 3,526 and the Nasdaq Composite added 164 points, or 1.3%, to 11,939.
The US Trade Representative's office said on September 1 it has extended China tariff exclusions for a wide range of goods, including smart watches and certain medical masks, through the end of 2020, rather than renewing the previous one-year extension.
Moody's Investor services declared that India among large emerging market sovereigns to have highest debt burden by 2021, which may put investors into a cautious stance.
🎯 News & Impact 🎯
Major Results Today : Coal India
🎯 Hero MotoCorp : Sales in August 2020 jumped to 5.84 lakh units versus 5.43 lakh units YoY.
🎯 TVS Motor : Total sales at 2.87 lakh units in August 2020 against 2.90 lakh units in August 2019.
Positive for the stock. 👍
🎯 VST Tillers and Tractors : Power Tillers sales at 2,638 units in August 2020 against 1,437 units in August 2019. Tractors at 897 units against 813 units in same period. Positive for the stock. 👍
🎯 Atul Auto : Total sales at 1,311 units in August 2020 versus 3,681 units YoY.
🎯 ONGC Q1: Standalone profit at Rs 496 crore versus loss of Rs 3,098.3 crore, revenue at Rs 13,011.3 crore versus Rs 21,456.2 crore QoQ.
🎯 Infosys : Company increased US hiring commitment to 25,000 by 2022. Positive for the stock. 👍
🎯 Shriram City Union : Board to consider raising Rs 150 crore via NCDs on private placement basis.
🎯 Emami : Promoters Priti A Sureka & Diwakar Viniyog Pvt Ltd released 27.4 lakh pledged shares. Positive for the stock. 👍
🎯 Aurobindo Pharma : Promoter Prasad Reddy Kambam created a pledge on 1 lakh shares. Negative for the stock.
🎯 IndiaMART InterMESH : Company sold 70 % stake in subsidiary Ten Times Online Private Ltd.
🎯 Ashapura Minechem : Promoter Ashapura Industrial Finance raised stake in company to 14.59 % from 14.47 % earlier.
🎯 Jamna Auto Industries : Promoter Map Auto created a pledge on company's 2.5 lakh shares and also raised stake to 33.72 % from 33.66 % earlier. Negative for the stock.
🎯 Ramkrishna Forgings : Promoter Riddhi Portfolio created a pledge on 10 lakh shares. Negative for the stock.
🎯 JSW Steel : Promoter Glebe Trading Pvt Ltd released 10.5 lakh pledged shares. Positive for the stock. 👍
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